MAVA Member Paladin Capital Group Participates in BugCrowd’s $15m fund Series B
Bugcrowd chief executive officer Casey Ellis says its recent win of $15m in Series B investment is a signal that Australian startups can score big.
The funding round is led by Blackbird Ventures with participants Rally Ventures, Costanoa Venture Capital and Paladin Capital Group, along with Industry Ventures and Salesforce Ventures.
The company, forged in Sydney and matured in San Francisco, has secured high profile customers under its crowdsourced bug bounty model where some 27,000 hackers compete to find and report bugs in customer networks in exchange for cash and fame.
It lists Fitbit, Motorola, Tesla, and TripAdvisor among its clients while “top-tier” customers running private bug bounties remain unnamed.